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Book
The politics of income inequality in the United States
Author:
ISBN: 9781107400368 9780521514583 0521514584 9780511576225 9780511508486 0511508484 9780511504891 0511504896 1107190223 9781107190221 0511509146 9780511509148 9786612058608 6612058609 0511507038 9780511507038 0511576226 1107400368 Year: 2009 Publisher: Cambridge Cambridge University Press

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Abstract

This book revolves around one central question: do political dynamics have a systematic and predictable influence on distributional outcomes in the United States? The answer is a resounding yes. Utilizing data from mass income surveys, elite surveys and aggregate time series, as well as theoretical insights from both American and comparative politics, Kelly shows that income inequality is a fundamental part of the US macro political system. Shifts in public opinion, party control of government and the ideological direction of policy all have important consequences for distributional outcomes. Specifically, shifts to the left produce reductions in inequality through two mechanisms - explicit redistribution and market conditioning. Whereas many previous studies focus only on the distributional impact of redistribution, this book shows that such a narrow strategy is misguided. In fact, market mechanisms matter far more than traditional redistribution in translating macro political shifts into distributional outcomes.


Book
America's Inequality Trap.
Author:
ISBN: 9780226665641 9780226665474 9780226665504 Year: 2020 Publisher: Chicago University of Chicago Press

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Book
America's Inequality Trap
Author:
ISBN: 022666564X Year: 2020 Publisher: Chicago : University of Chicago Press,

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The gap between the rich and the poor has grown dramatically in the United States and is now at its widest since at least the early 1900s. While by most measures the economy has been improving, soaring cost of living and stagnant wages have done little to assuage economic anxieties. Conditions like these seem designed to produce a generation-defining intervention to balance the economic scales and enhance opportunities for those at the middle and bottom of the country’s economic ladder—but we have seen nothing of the sort. Nathan J. Kelly argues that a key reason for this is that rising concentrations of wealth create a politics that makes reducing economic inequality more difficult. Kelly convincingly shows that, when a small fraction of the people control most of the economic resources, they also hold a disproportionate amount of political power, hurtling us toward a self-perpetuating plutocracy, or an “inequality trap.” Among other things, the rich support a broad political campaign that convinces voters that policies to reduce inequality are unwise and not in the average voter’s interest, regardless of the real economic impact. They also take advantage of interest groups they generously support to influence Congress and the president, as well as state governments, in ways that stop or slow down reform. One of the key implications of this book is that social policies designed to combat inequality should work hand-in-hand with political reforms that enhance democratic governance and efforts to fight racism, and a coordinated effort on all of these fronts will be needed to reverse the decades-long trend.

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